{
  "docId": "019dd923-622c-750b-8b99-856ed0788e9a",
  "docSlug": "40e9e62f0249",
  "documentTitle": "PowerSchool Holdings, Inc. (PWSC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2024-04-17 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 48,
  "pageCount": 117,
  "prevPage": 47,
  "nextPage": 49,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "dense",
  "nDataPoints": 8,
  "notes": "Uses two tables to contrast revenue composition across two time periods.",
  "elementsJson": [
    "headline_text",
    "callout_box",
    "data_table",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-856ed0788e9a/48",
  "deckHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-856ed0788e9a#slide-48",
  "components": [
    {
      "bbox": {
        "h": 0.055,
        "w": 0.964,
        "x": 0.018,
        "y": 0.172
      },
      "kind": "callout",
      "text": "Management touts the international expansion potential as a significant portion of its growth opportunity, yet the international business hasn't grown as a percentage of revenue since at least 2019.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57fdec7d-2197-41fd-80d3-cf5a70488740",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.048,
        "w": 0.218,
        "x": 0.763,
        "y": 0.415
      },
      "kind": "callout",
      "text": "International is ~2% of revenue in 2019",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "adccf8ae-69b3-4f32-a9f1-c325041664de",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.048,
        "w": 0.218,
        "x": 0.763,
        "y": 0.696
      },
      "kind": "callout",
      "text": "International is still ~2% of revenue in 2023",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ea4a579a-9f49-4c4e-b4a4-2250bce149cc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "Management touts the international expansion potential as a significant portion of its growth opportunity, yet the international business hasn’t grown as a percentage of revenue since at least 2019.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-fb92-756a-9da5-cddaf2c191c0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "international revenue percentage: 2%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-fb92-756a-9da5-d1a8d2ceaf4c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.015,
        "w": 0.23,
        "x": 0.018,
        "y": 0.975
      },
      "kind": "source-note",
      "text": "Source: PowerSchool S-1, FY23 10-K",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4f661022-6f23-494d-9c43-5403b3cd6efb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.115,
        "w": 0.535,
        "x": 0.198,
        "y": 0.272
      },
      "kind": "table",
      "text": "Revenue by principal geographic areas 2019",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "327ec230-64b1-4b18-b6b0-c5ef600aa34a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.115,
        "w": 0.535,
        "x": 0.198,
        "y": 0.56
      },
      "kind": "table",
      "text": "Revenue by principal geographic areas 2023",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6e10108d-e234-4ef7-8e7a-09022685c2bb",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.055,
        "w": 0.635,
        "x": 0.338,
        "y": 0.035
      },
      "kind": "title",
      "text": "PowerSchool Hasn't Expanded Its International Business Since 2019",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ab4fb331-1cee-4df2-a5ab-dd7cd4f8fb35",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Table data",
      "slug": "table-data",
      "agent": null,
      "layer": "slide",
      "matchId": "371c524a-49f6-4f84-8c60-8e36cb5cd9cb",
      "evidence": "table/data: Revenue by principal geographic areas 2019",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "ceo-quote-contradiction",
      "slug": null,
      "matchId": "4f879a04-b3f4-40f6-aa63-eb1395810b21",
      "evidence": "Contrasts management's stated growth strategy with actual revenue data.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}